Energy Fuels Inc. (TSX:EFR) is pleased to announce that it has closed the previously announced bought deal offering of 31,250,000 common shares at a price of $0.16 per Common Share for aggregate gross proceeds of $5,000,000. The Offering was conducted by way of a short form prospectus dated October 9, 2013 through a syndicate of underwriters led by Dundee Securities Ltd., Cantor Fitzgerald Canada Corporation, and Haywood Securities Inc. The Underwriters have been granted an option to purchase up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 30 days after the closing date. In addition, 1,548,125 compensation warrants were issued to the Underwriters pursuant to the Offering.
The Company intends to use the net proceeds of the Offering for continued exploration and development of the Company’s Roca Honda, Sheep Mountain, Gas Hills, Juniper Ridge and Canyon Mine mineral properties, the identification and evaluation of future potential mineral property acquisitions and for working capital and general corporate purposes.
About Energy Fuels
Energy Fuels is America’s largest conventional uranium producer, supplying approximately 25% of the uranium produced in the U.S. The Company is also a significant producer of vanadium. Energy Fuels operates the White Mesa Mill, which is the only conventional uranium mill currently operating in the U.S. The mill is capable of processing 2,000 tons per day of uranium ore. Energy Fuels has projects located throughout the Western U.S., including producing mines and mineral properties in various stages of permitting and development. The Company’s common shares are listed on the Toronto Stock Exchange under the trading symbol “EFR”.
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We acknowledge the [financial] support of the Government of Canada.